Caleres Inc. Expected to Post Q3 2018 Earnings of $0.89 Per Share (CAL)
Caleres Inc. (NYSE:CAL) – Equities researchers at Northcoast Research decreased their Q3 2018 earnings per share (EPS) estimates for Caleres in a report released on Thursday. Northcoast Research analyst J. Stein now anticipates that the brokerage will earn $0.89 per share for the quarter, down from their previous estimate of $1.00. Northcoast Research also issued estimates for Caleres’ Q4 2018 earnings at $0.37 EPS.
Caleres (NYSE:CAL) last posted its earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The business had revenue of $622.94 million for the quarter, compared to the consensus estimate of $638.71 million. Caleres had a return on equity of 13.87% and a net margin of 3.26%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share.
CAL has been the subject of several other reports. Zacks Investment Research upgraded shares of Caleres from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Morgan Stanley reiterated a “hold” rating and set a $30.00 price target on shares of Caleres in a report on Wednesday, September 7th. Finally, Susquehanna initiated coverage on shares of Caleres in a report on Friday, September 16th. They set a “neutral” rating and a $25.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.67.
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Caleres (NYSE:CAL) opened at 26.07 on Monday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.79 and a beta of 0.80. The firm’s 50-day moving average price is $25.29 and its 200 day moving average price is $25.16. Caleres has a 12-month low of $21.27 and a 12-month high of $31.82.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.28 dividend on an annualized basis and a yield of 1.07%. Caleres’s dividend payout ratio (DPR) is currently 14.66%.
A number of hedge funds have recently modified their holdings of the stock. PineBridge Investments L.P. boosted its stake in shares of Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock worth $134,000 after buying an additional 199 shares during the period. Arizona State Retirement System boosted its position in Caleres by 0.9% in the second quarter. Arizona State Retirement System now owns 22,642 shares of the company’s stock worth $548,000 after buying an additional 200 shares during the period. US Bancorp DE boosted its position in Caleres by 2.2% in the second quarter. US Bancorp DE now owns 10,500 shares of the company’s stock worth $254,000 after buying an additional 225 shares during the period. Clark Capital Management Group Inc. boosted its position in Caleres by 1.7% in the first quarter. Clark Capital Management Group Inc. now owns 20,966 shares of the company’s stock worth $593,000 after buying an additional 358 shares during the period. Finally, Royal Bank of Canada boosted its position in Caleres by 4.0% in the second quarter. Royal Bank of Canada now owns 9,517 shares of the company’s stock worth $230,000 after buying an additional 364 shares during the period. 85.60% of the stock is currently owned by institutional investors and hedge funds.
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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